15 years of revenue, profit, cash flow and balance-sheet history through FY2025, from SEC filings — with a computed, factual read of the trend. Updated Overview →
| FY | Revenue | Net income | Gross M | Op M | FCF | Total debt | Cash |
|---|---|---|---|---|---|---|---|
| 2025 | $18.2B | $1.2B | 0.0% | 0.0% | — | $5.9B | $9.5B |
| 2024 | $18.4B | $3.3B | 0.0% | 0.0% | — | $6.2B | $5.8B |
| 2023 | $11.6B | -$752M | 0.0% | 0.0% | — | $5.9B | $3.4B |
| 2022 | $18.8B | $1.4B | 0.0% | 0.0% | — | $6.3B | $3.3B |
| 2021 | $17.7B | $3.8B | 0.0% | 0.0% | — | $6.3B | $2.6B |
| 2020 | $17.4B | $499M | 0.0% | 0.0% | — | $6.3B | $1.7B |
| 2019 | $17.3B | $886M | 0.0% | 0.0% | — | $6.4B | $2.6B |
| 2018 | $16.4B | $1.6B | 0.0% | 0.0% | — | $5.7B | $2.3B |
| 2017 | $14.3B | $2.1B | 0.0% | 0.0% | — | $5.1B | $1.6B |
| 2016 | $13.3B | $1.2B | 0.0% | 0.0% | — | $5.1B | $2.7B |
| 2015 | $13.6B | $1.2B | 0.0% | 0.0% | — | $5.3B | $3.1B |
| 2014 | $13.6B | $1.5B | 0.0% | 0.0% | — | $5.3B | — |
| 2013 | $12.0B | $1.2B | 0.0% | 0.0% | — | $5.8B | — |
| 2012 | $11.5B | $1.3B | 0.0% | 0.0% | — | $5.4B | — |
| 2011 | $10.6B | $221M | 0.0% | 0.0% | — | $5.4B | — |
| Quarter | Revenue | Net income | Gross M | Op M | FCF | Total debt | Cash |
|---|---|---|---|---|---|---|---|
| Mar '26 | $5.3B | -$172M | 0.0% | 0.0% | — | $6.0B | $7.3B |
| Dec '25 | $4.9B | $754M | 0.0% | 0.0% | — | $5.9B | $9.5B |
| Sep '25 | $4.6B | $445M | 0.0% | 0.0% | — | $5.8B | $10.7B |
| Jun '25 | $4.0B | $699M | 0.0% | 0.0% | — | $5.8B | $7.1B |
| Mar '25 | $4.7B | -$722M | 0.0% | 0.0% | — | $5.9B | $4.3B |
| Dec '24 | $5.1B | $1.7B | 0.0% | 0.0% | — | $6.2B | $5.8B |
| Sep '24 | $4.1B | -$528M | 0.0% | 0.0% | — | $6.2B | $6.0B |
| Jun '24 | $5.2B | $895M | 0.0% | 0.0% | — | $6.2B | $5.5B |
| Mar '24 | $4.1B | $1.2B | 0.0% | 0.0% | — | $6.2B | $4.1B |
| Dec '23 | $699M | -$1.2B | 0.0% | 0.0% | — | $5.9B | $3.4B |
| Sep '23 | $4.2B | $853M | 0.0% | 0.0% | — | — | $2.5B |
| Jun '23 | $2.9B | $511M | 0.0% | 0.0% | — | — | $3.8B |
| Mar '23 | $3.8B | -$881M | 0.0% | 0.0% | — | — | $3.8B |
| Dec '22 | $3.8B | $813M | 0.0% | 0.0% | — | $6.3B | $3.3B |
| Sep '22 | $4.7B | -$1.8B | 0.0% | 0.0% | — | $6.5B | $1.5B |
| Jun '22 | $5.6B | $840M | 0.0% | 0.0% | — | $6.5B | $1.6B |
| Mar '22 | $4.7B | $1.5B | 0.0% | 0.0% | — | $6.6B | $2.0B |
| Dec '21 | $5.2B | $708M | 0.0% | 0.0% | — | $6.3B | $2.6B |
| Sep '21 | $5.2B | $316M | 0.0% | 0.0% | — | $6.6B | $2.6B |
| Jun '21 | $4.9B | $645M | 0.0% | 0.0% | — | — | $2.4B |
How the market has priced LNC against its own fundamentals since 2023-03 — each month-end's share price set against the most recent annual filing, so the multiple moves as price runs ahead of (or behind) earnings. Split-adjusted.
Over the past 5 years, Lincoln National Corp's revenue has grown 0.9% per year, and net income grown 18.7% per year. These are computed facts, not advice.
As of FY2025, Lincoln National Corp reported $5.9B of total debt against $9.5B of cash.
In FY2025, gross margin was —, operating margin —, and net margin 6.5%.
As of Jun '26, Lincoln National Corp traded at a price-to-earnings ratio of about 5.9× (market cap ÷ latest annual net income). The valuation charts above show how its P/E, P/S and dividend yield have moved with the share price. These are computed facts, not advice.
All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.
Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), corporate-action-adjusted · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.